BNDES projects 15% high in disbursements
Valor Econômico - 04/08/2008
The heating of the Brazilian economy and the increase in the search for funds destined to the infrastructure sector led the National Economic and Social Development Bank (BNDES) to expect a disbursement of up to R$ 9.41 billion (US$ 5.4 billion) for electric energy projects this year. The amount is 15.6% superior to the R$ 8,14 billion (US$ 4,23 billion) allocated to the sector in 2007. "What we have seen is a very strong electric energy portfolio and with growth perspectives ", affirmed BNDES' director of the infrastructure area, Wagner Bittencourt. According to him, between 2003 and March of this year the bank approved 128 projects only for electric generation, with expected financings of R$ 17.8 billion (US$ 10.2 billion) and generation capacity of 14,600 MW, the equivalent to almost 15% of the production capacity of the country's currently existing energy. For the portfolio of generation of energy - that considers the projects that have not been approved yet, but that have already be adjusted and are under analysis by the bank - the institution already has 101 projects in perspective, with expected financings of R$ 31 billion (US$ 17.7 billion) and generation of 14,200 MW. According to Bittencourt, BNDES has already approved 53 generation projects until today, within the scope of the Program of Growth Acceleration (PAC), which must produce 4,600 MW and will allocate R$ 11 billion (US$ 6.3 billion) in funds of the bank, which has also already approved R$ 1 billion (US$ 571.4 million) for the construction of six lines of transmission, which, together, will be 1,900 kilometers long. In the portfolio of investments that still depend on approval, the PAC has 28 generation projects under analysis by the technicians of the bank, which means another 10,800 MW and R$ 24 billion (US$ 13,7 billion) in funds.